ltd-Income (PHI), Aberdeen-Mortgageshield


Income Protection


Income Protection or Permanent Health Insurance (PHI)

Sometimes called disability Income benefit which is designed to provide you with an Income.

Income Protection Features

          There is a deferred period to suit your needs, these ranges between 4 and 52 weeks.

          Insurance provides an income commencing after a deferred period for a person who is unable to work due to sickness or injury.

          The policy, when in place, is permanent. The premiums cannot increase (unless a reviewable premium is chosen) or claims be refused.
   The policy has a fixed term, usually to retirement age of 60 or 65.

          There is a maximum insured income limit based on several factors. Please contact us for your specific situation.

          The benefits can be level or increase at a fixed amount.

          Premium rates are occupation based.

          Maximum income typically up to 65% of your earned income.

Income Protection Benefits

          Income is paid for the duration of your illness or incapacity or/and until your selected end date (typically to your retirement date)

          If you recover then become ill again you can recommence your claim or if it is for a different incapacity, claims are not restricted to one event.

          Benefits paid for short & long term incapacity, subject to the deferred period.

          The insurance company cannot cancel cover once you have been accepted. You can cancel, they cannot.

          Inflation protection can be provided by arranging an increasing policy. This provides increasing cover to take into account rising future costs.

          Guaranteed premiums are available with most insurance companies.

Income Protection Limitations

  • You may receive exclusion for any pre existing medical conditions.
  • Some occupations may be excluded from cover.